Under Armour Upgraded, VF Corp Downgraded
KeyBanc Capital Markets on Monday raised its rating on Under Armour due in part to its recent hiring of Patrik Frisk as COO. At the same time, the investment firm lowered its rating on VF Corp. due in its valuation and online weakness at its jeanswear coalition and Timberland.
Finish Line “Somewhat Optimistic” On Back-Half Sneaker Rebound
On a conference call with analysts, Sam Sato, Finish Line’s CEO, cautioned the company expects “sales and margin trends to remain difficult throughout the remainder of the year,” maintained its forecast for the year, and noted that the industry overall was still learning to adapt to changing buying behaviors around sneakers.
Aisle Talk, Week Of September 18
Top headlines from the active lifestyle industry you may have missed this week.
Consumer Direct Offense Gets Heavy Play At Nike’s Annual Meeting
At Nike’s 37th annual meeting held at its Beaverton headquarters, Nike officials discussed the company’s liberal leanings, its climate change actions and new NBA partnership. But most of the time was spent talking up its “Consumer Direct Offense” initiative.
Susquehanna Upgrades Hibbett Sports On Hurricane Benefits
Susquehanna Financial Group has upgraded its rating on Hibbett Sports as it expects its stores and recently-launched e-commerce site to benefit from footwear replacement needs caused by hurricanes Harvey and Irma.
E-Bikes The Focus Of BPSA’s First-Ever Annual Report
The Bicycle Product Suppliers Association (BPSA) released its first-ever Annual Report and, not surprisingly, grappling with safety and legal issues around e-bikes was a major discussion point.
Academy’s Challenges Continue In First Half
Moody’s downgraded the debt ratings of Academy Sports + Outdoors due to “difficult market conditions, including a highly promotional environment for athletic apparel and weak demand for firearms and ammunition,”
Fitbit Not Too Worried About Apple’s New Smartwatch
At the Deutsche Bank Technology Conference, William Zerella, Fitbit’s CFO, said that while the recent launch of the Apple Watch Series 3 caught some buzz, Fitbit’s first smartwatch, Ionic, is ready to compete in the space.
Nike Faces Downgrades On Growth Concerns
Analysts from Susquehanna Financial Group and Jefferies on Tuesday lowered their earnings guidance and price targets on Nike due to further growth concerns. Susquehanna also lowered its stock rating on Nike.
Wells Fargo Downgrades Under Armour, Cuts Estimates On Athletic Sector
Wells Fargo downgraded Under Armour to “underperform” while lowering its estimates on Under Armour, Nike, Lululemon and Finish Line due to a slowdown in the athletic cycle.
Iconix Touts Its Active Brands Growth Potential
At CL King’s 15th Annual Best Ideas Conference 2017, Dave Jones, EVP and CFO of Iconix Brand Group, said many of the company’s active brands continue to offer the most growth potential for the company. Mossimo, Starter, Ocean Pacific, Umbro, Danskin and Pony were all called out.
Roots To Accelerate Expansion With IPO
Roots, the Canadian lifestyle apparel chain, filed for an initial public offering to accomplish ambitious growth goals in the years ahead, including adding about a dozen new doors in the U.S.
Nike’s Heidi O’Neill Discusses Digital-First Strategy
At Recode’s Code Commerce event in New York City, Heidi O’Neill, Nike’s president of direct-to-consumer business, discussed Nike’s aggressive moves into direct-to-consumer, its decision to sell directly to Amazon and overall digital transformation.
Aisle Talk, Week Of September 11
Top headlines from the active lifestyle industry you may have missed this week.
Fanatics Aiming For $10 Billion In Sales
Expanding internationally and capitalizing on its verticalization capabilities, Fanatics expects to reach over $2 billion in sales in 2017 and sees the long-term opportunity to reach more than $10 billion in sales, Michael Rubin, executive chairman of Fanatics, said Wednesday at Recode’s Code Commerce event.
